Bizum is going to reduce the number of transfers that each individual user can make at the end of the month, as Euribor and Invertia have advanced and we have been able to confirm from Xataka. Currently, that limit is at 150 monthly operations, but as of June 15 the figure will be reduced to 60 monthly operations. That, in a nutshell, means that we will go from having an average of five daily transfers to just two.
From Bizum they have confirmed to Engadget that “as of June 15, only the case of payments between people, the number of bizums that a user can receive per month is reduced to 60 in order to continue to guarantee your safetyThey also ensure that “the sending capacity is not diminished in any case.” In other words, we can continue making as many shipments as we want, but we can only receive 60 money shipments.
Framework standard for all banking
This ad squares with BBVA movements, which in Bizum’s conditions of use states that as of June 15 the transfer limit will be reduced to 60, and with the email that EVO Banco has sent to its customers in which they notify that “Bizum has changed one of its terms”.
Bizum is a platform where 31 Spanish banks participate. As such, it has certain framework limits for everyone, but each bank can set its own limits within these for its clients. In other words, even if Bizum contemplates a maximum of 150 monthly operations per customer, a bank may decide to offer fewer transfers.
However, the reduction from 150 to 60 monthly operations will apply to all banking, so the new maximum will be 60 and each bank will be able to decide whether to offer 60 operations or less. The reason, they explain from Bizum, is to adjust “the operation to the reality of most common use among bizumers”, which according to Invertia results in combating the irregular use of the service, which can currently be used as a payment method by businesses and self-employed.
As explained from Bizum, businesses must contact any of the participating banks to reach the “corresponding trade agreement“. The self-employed, for their part, must speak with the bank to hire the service, since” it is a different service to sending money between individuals.